Stocks To Keep A Close Eye On
- Thread starter SavantGarde
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- Tags afl amibroker
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any way me holding some from his last call though bought around 37.40 waiting fingers crossed:eat:
If you do not have programming knowledge, it is best to use some another readymade software rather than this code.
OR, you can use web-based charting sites like www.icharts.in/charts.html or www.rupeeking.com
They are using the same software as me.
OR, you can use web-based charting sites like www.icharts.in/charts.html or www.rupeeking.com
They are using the same software as me.
Hi Priyanvada,
If you see the data on 11 Aug, there is a huge volume spike with price closing near the centre of the range. This means that that were lot of professional activity at that level. Now since it is a down-day with high volumes, it could also be a selling. To confirm whether professionals have sold or they have absorbed the selling, we need to wait for the next session. In the next session, the price is up, which indicates that the huge activity on previous day was accumulation by the professionals. [Such type of volume is called "Absorption volume"]. On 12 and 13 sessions, price has moved up with volume. Volume is the equivalent of "effort". Thus, professionals are buying the stock. But near 1500, perhaps it got too expensive for the professionals so they stopped buying and as a result demand reduced and the price was pushed down. The volume on that day is low, which points towards that there was no much professional interest in selling. This is the sign of accumulation.
Observe the closing near the absorption volume, its in the range 1420-1435. This is the professional support for it and they would not allow the stock to go below that.
The 1600 level is by observing the down-day on large supply(Aug 5,6). That indicates that it was a supply zone. So before moving above 1600, the professionals would again "test" if supply(resistance) still exists at that level.
But beware of a close below 1420 with large volumes!
If you see the data on 11 Aug, there is a huge volume spike with price closing near the centre of the range. This means that that were lot of professional activity at that level. Now since it is a down-day with high volumes, it could also be a selling. To confirm whether professionals have sold or they have absorbed the selling, we need to wait for the next session. In the next session, the price is up, which indicates that the huge activity on previous day was accumulation by the professionals. [Such type of volume is called "Absorption volume"]. On 12 and 13 sessions, price has moved up with volume. Volume is the equivalent of "effort". Thus, professionals are buying the stock. But near 1500, perhaps it got too expensive for the professionals so they stopped buying and as a result demand reduced and the price was pushed down. The volume on that day is low, which points towards that there was no much professional interest in selling. This is the sign of accumulation.
Observe the closing near the absorption volume, its in the range 1420-1435. This is the professional support for it and they would not allow the stock to go below that.
The 1600 level is by observing the down-day on large supply(Aug 5,6). That indicates that it was a supply zone. So before moving above 1600, the professionals would again "test" if supply(resistance) still exists at that level.
But beware of a close below 1420 with large volumes!
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